North American Network Operators Group Date Prev | Date Next | Date Index | Thread Index | Author Index | Historical Re: Metromedia Fiber warns of possible bankruptcy :-(
Whoever the buyer is, I hope it's not WorldCom! Joe On 3/18/02 10:23 AM, "Richard A Steenbergen" <[email protected]> wrote: > > On Mon, Mar 18, 2002 at 10:19:30AM -0800, Rusty H. Hodge wrote: >> >> Metromedia said it is seeking to restructure its debts. As of Feb. >> 28, it had $3.3 billion of consolidated debt and about $37.3 million >> in cash. A restructuring could substantially dilute the value held by >> stockholders, the company said. > ... >> To raise cash, Metromedia said it plans to sell the facilities of its >> Internet exchange, PAIX, for about $50 million cash and an equity >> interest in the buyer. A substantial part of the proceeds from the >> sale, expected to close in the second quarter, will be used to pay >> down debt, it said. > > $50 mil down, $3.25 billion to go...
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